Thursday, February 03, 2005

The world's largest job search Web site Monster.com buys Stake in ChinaHR.com

"Monster Worldwide Inc., which operates the world's largest job search Web site, said Wednesday that it acquired a 40 percent stake in ChinaHR.com Holdings Ltd., the owner of online recreuitment site ChinaHR.com, for $50 million."

"As a result of the transaction, Monster Worldwide will initially occupy three of seven seats on ChinaHR's board. Monster also will have certain rights and obligations to purchase a stake of 51 percent or more in ChinaHR in the event of an initial public offering or in three years, whichever comes first." Read more